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good is selling very well, you can stock it in higher quantity to have it always
on ready supply. Your customers will appreciate it.
• If your business is doing badly your records can tell you why, and assist you
to solve the problem. For instance, your records will indicate to you if one of
your customers has failed to pay their account in time. Having specified the
problem you can work on it.
To understand better how to fill in such a record book, study the example of
Busonga Paper Tech below:
Busonga Paper Tech is exercising how to fill in a record book. For exercise
purposes, they consider the following transactions to be made in the sixth month
of their business operations.
01/06 Balance brought forward from the previous month
01/06 Payment of 5 loads of waste paper collected from community
02/06 Rent paid to the landlord
04/06 Stationery bought by Mr. Munyara
10/06 Money transfer from the bank account to the cash box
14/06 Chipboards, glue and decorators bought for making folders
14/06 Transport for community meeting
16/06 Received payment for 20 folders sold to Keep Well NGO
17/06 Received payment from sale of 10 CD boxes from Smart Shop
28/06 Money transfer from the bank account to the cash box
29/06 Wages and salaries paid for group members
30/06 Payment of telephone bill
30/06 Payment of electricity
Here is how Busonga Paper Tech fill in these transactions into their Record Book
Date Details Voucher
No
Cash Bank
IN OUT BALANCE IN OUT BALANCE
Sales Direct
material
costs
Direct
labour
Costs
Indirect
Costs
01/06 B/F 2,000 10,000
01/06 Payment for waste 340 1,500 8,500 1,500
02/06 Rent 341 1,000 1,000 1,000
04/06 Bought Stationery 342 1,000 0 1,000
10/06 Bank to cash box 343 3,000 3,000 3,000 5,500
14/06 Bought glue etc 344 500 2,500 500
14/06 Transport 345 500 2,000 500
16/06 Sales 346 26,000 31,500 26,000
17/06 Sales 347 2,000 4,000 2,000
28/06 Bank to cash box 348 7,000 11,000 7,000 24,500
29/06 Wage 349 5,000 6,000 5,000
29/06 Wage 350 5,000 1,000 5,000
30/06 Telephone 351 500 24,000 500
30/06 Electricity 352 400 23,600 400
28,000 1,500 10,000 3,900
BUSONGA PAPER TECH